Market sentiment wasn't helped by a surprise deepening in the budget fight in Washington either.House Speaker Paul Ryan said President Donald Trump won't sign the spending bill needed to prevent a government shutdown. It will mean higher borrowing costs for many consumers and businesses.

An afternoon recap of the day's most important business news, delivered weekdays.

The stock market's reactions to the Federal Reserve's decisions under chairman Jerome Powell have been negative across the board, according to an analysis from Bespoke Investment Group. But this time, risks to the economy appear to be rising. The benchmark rate will now sit in a range from 2.25 percent to 2.5 percent, abutting the lower end of what Fed officials consider the neutral zone: the region in which rates would neither stimulate nor restrain the economy.

"There's significant uncertainty about the - both the path and the ultimate destination of any further rate increases", Powell said, adding that low inflation "gives the committee the ability to be patient in moving forward".

"The recent market chaos and tightening of financial conditions has not fundamentally altered the Fed's outlook".

But like anyone seeking a compromise, Powell ended up making few people happy.

Analysts are predicting another day of stock price declines Friday, capping off a rough week for the market amid the threat of a USA government shutdown and swelling concern of slowing global growth.

The S&P 500 and Dow Jones industrial average fell 1.6 percent and 2 percent, respectively, with the Dow down 679 points at its session low.

December 20: It remains our view that the performance of the SPX index suggests that the current corrective phase poses an even greater threat to the long-running US equity bull market than did the 2014-16 correction. On Thursday, the Nasdaq Composite slides to bear market territory, increasing regulatory concerns. "For investors, there's a heck of a lot of small storms to be sailing ships through".

It will mean higher costs for business loans, balances on credit cards, vehicle loans, and home equity loans.

Investors hoping to get rescued by the Fed were left disappointed by the central bank's statement and Jerome Powell's press conference on Wednesday. Pepsi rose 2.7 percent to $113.15 and Procter & Gamble added 1.5 percent to $92.36.

A bruising sell-off had started Wednesday after the Federal Reserve raised its benchmark interest rate a quarter percentage point and signaled it would take a tentative approach to setting monetary policy next year. He also told Reuters that the central bank "would be foolish" to proceed with a rate hike.

Previous hikes and a stronger dollar will gradually bite into the economy just as fiscal stimulus fades and foreign economies from China to Europe also cool. The Fed forecast one rate increase in 2020.

And Powell is acknowledging that forecasting rate hikes has become tougher in this environment. The Nasdaq skidded 195.41 points, or 3 percent, to 6,332.99.

As investors flocked to the safety of government bonds, the 10-year U.S. Treasurys yield fell below its May 29 low of 2.759 percent to as low as 2.750 percent, a level last seen in early April. No longer will the Fed be able to signal weeks in advance the near-certainty of a shift in rates.

Williams also tried to correct the market impression that two interest rate increases are set in stone for next year, highlighting a slight change of language in the policy statement issued on Wednesday.

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The House's continuing resolution, which would fund the government until February 8, also includes $8 billion for disaster relief. Democrat Senator Carl Levin of MI said it would be "like allowing the home team to change the rules in the middle of the game".

Administration officials have said for months that they are pushing for a second Trump-Kim summit, although Mr. Little progress has been made on denuclearizing since President Trump met with Kim in June.

An additional outcome of Comey's firing was that Trump himself came under investigation for attempted obstruction of justice . He is the first Trump administration figure to face sentencing in the probe into alleged Kremlin election meddling.

Further, they have been arguing forcefully that Huawei should not be banned completely from the United States market. Huawei has become the target of US security concerns because of its ties to the Chinese government.

India came down under favourites and won the first match in Adelaide. "I'm really happy with the way we are going about it". The second key element that was the telling difference in the sides was the inclusion of a spinner.

He is eligible for a supermax extension this summer worth $239 million over five years, should he choose to stay with New Orleans. At 28 points, 2.8 blocks, 12.3 rebounds and 4.7 assists per game, it's a lot of work for a job he's apparently not doing.

However, the airfield only reopened for a mere 44 minutes before being closed again after a further sighting of the drones . The airport advised those heading to Gatwick to travel or collect relatives to check the status of their flight .

Taking a long exposure with a mounted camera of the comet may capture a more crisp image and reveal its tail, or coma, she said. You can follow the project, called the Comet Wirtanen Observing Campaign, at its website here: http://wirtanen.astro.umd.edu .

The company's stock dropped more than 7 percent in a day, and it lost a staggering $28 billion in market capitalization . The lawsuit comes as Facebook faces new reports that it shared its users' data without their permission.

The Defence Ministry says Japan plans to purchase 105 conventional F-35s and 42 F-35Bs to replace some of its fleet of F-15s. A US F-35B fighter jet lands aboard amphibious assault ship Wasp during an exercise in the western Pacific.

Her first was to her college sweetheart, Michael Henry, with whom she had a daughter, Tracy. Later on in her career, in 2005, Penny also produced Cinderella Man , and Bewitched .

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